The Reserve Bank of India (RBI) has approved Chugh's appointment, Ujjivan Financial Services said in a BSE filing.
Presently, the deposit base (both retail and bulk) of the SFB stood at Rs 4000 crore.
The four locations are Swargate, Pimpri, Akurdi and Hadapsar and the small finance bank now operates out of Bengaluru, Ramanagara, Mumbai, New Delhi, Kolkata and Pune.
Ujjivan Small Finance Bank has officially started services with five branches and a customer base of 35 lakh. our correspondent, Rukmini Rao caught up with Samit Ghosh, MD & CEO OF Ujjivan Small Finance Bank And began by asking when they plan to roll out the 400-odd branches.
"With a customer base of 35 lakh people, we are now focusing on the under-served. In the last two years, we have done a lot of market research. There is a huge gap in market potential. We want to grow as a major player in retail banking in next five years," said Samit Ghosh, MD and CEO, Ujjivan Small Finance Bank, at the launch.
"Ujjivan Small Finance Bank is expected to commence banking operations in the first quarter of 2017 after receiving necessary approvals, registrations and licensing from various departments of RBI and other integrated agencies," Ujjivan said in a statement here.
Ujjivan Small Finance Bank has got licence from RBI yesterday, Ujjivan Financial Services, the promoter company, said in a filing to the BSE.